Bachelor of Insurance and Risk Management with Apprenticeship

Course Overview

A bachelor's degree program in insurance and risk management prepares students to help businesses and individuals predict and plan for potential risks in order to minimize losses. Studies often focus on the principles of business, finance, economics, and organizational management while covering the theories behind risk management and loss management. The program provides students with a strong foundation of knowledge of the insurance industry. Courses cover the basics of life and health insurance policies, insurance laws and regulations, commercial insurance, and personal insurance.

What you'll study

Semester I

    • General Insurance Business
    • Principles of Risk Management
    • Principles of Accounting
    • Business Mathematics
    • Business Law
    • Development Perspectives

Semester II

    • Principles of Economics.
    • Business Computer Application
    • Business Communication
    • Enterprise Risk Management
    • Principles of Bancassurance
    • Customer Service and Marketing Insurance Product

Semester III

    • Insurance Law and Regulations
    • Motor Insurance Practice
    • Insurance Underwriting Practice
    • Healthcare Insurance Practice
    • Insurance Intermediary Practice
    • Bancassurance Practice

Semester IV

    • Risk Financing and ART
    • Engineering Insurance
    • Life Assurance and Critical Illness
    • Principles of Management
    • Research Methodology
    • Liability Insurance

Semester V

    • Advance Claims Management
    • Surplus Line and Reinsurance Business
    • Fundamentals of Loss Assessment and Adjustment
    • Agriculture Insurance
    • Microinsurance Practice

Semester VI

    • Financial Planning and Management
    • Strategic Management
    • Oil and Gas Insurance
    • Entrepreneurship
    • Marine Insurance Business
    • Project Risk Management
    • Human Resource Management
Entry Requirements

Diploma in Insurance and Risk Management, Finance and Banking, Economics and Finance, Marketing, Taxation, Business Management, Micro Finance,  Procurement and Logistics Management, Credit Management or Accountancy with an average of “B’’ or a minimum GPA of 3.0 or Foundation Programme of the OUT with a minimum GPA of 3.0. OR

Form VI with two principal passes in the following subjects: History, Geography, Kiswahili, English Language, French, Arabic, Fine Art, Economics, Commerce, Accountancy, Physics, Chemistry, Biology, Advanced Mathematics, Agriculture, Computer Science or Nutrition. The two principal passes MUST make an aggregate of 4.0 points as a minimum or Foundation Programme of the OUT with a minimum GPA of 3.0.

What you'll experience

  • Examining insurance proposals.
  • collecting background information and assessments of risk.
  • Designing and implementing an overall risk management process for the organization, which includes an analysis of the financial impact on the company when risks occur
  • Performing a risk assessment: Analyzing current risks and identifying potential risks that are affecting the company
  • Performing a risk evaluation: Evaluating the company’s previous handling of risks, and comparing potential risks with criteria set out by the company such as costs and legal requirements
  • Establishing the level of risk, the company are willing to take
  • Preparing risk management and insurance budgets
  • Risk reporting tailored to the relevant audience.

Careers and opportunities

 You’ll be prepared for global career opportunities in the areas of:

  • Risk management analyst or Loss Control Specialist
  • Insurance underwriter
  • Insurance- A Legal/ Compliance Officer
  • Insurance broker
  • Insurance sales agent
  • Damage appraiser

Teaching methods

Teaching methods on this course include:

  • Lectures
  • Tutorials
  • Practical work

How you're assessed

You’ll be assessed through:

  • Technical reports and projects
  • Written exams
  • Presentations
  • Competence tests
  • Group discussions

Course costs

Registration (IAA)   20,000/=

Examination (IAA)   70,000/=

Application Form (IAA)  10,000/=

Wear and Tear          20,000/=

IAASO                       20,000/=

STUDENT ID             3,000/=


EAC                US$ 820

SADC              US$870

Others            US$900

How to Apply

Institute of Accountancy Arusha admission cycles are normally guided by two regulatory authorities which are The National Council for Technical Education (NACTE) and The Tanzania Commission for Universities (TCU). If you apply to IAA, you will be following provisions as set forth by the mentioned authorities.

Different programmes have different entry requirements. You can visit our programme page to see entry requirement for different programmes or be sure to read thoroughly the TCU admission guide book and the NACTE admission guide book.

We consider each applicant and put enormous care into evaluating every application. We hope you will explore the information in this section to understand what we look for in our admissions process.

  • Fee 1,500,000/=
  • Duration 3 Years
  • Language English
  • Mode of Study Full Time
  • Intakes October